20 October 2009 18:03 [Source: ICIS news]
HOUSTON (ICIS news)--Brazil’s ethanol spot market extended its latest upward pricing trend for a sixth consecutive week, supported by strong demand and weather-related supply disruptions, research group CEPEA said on Tuesday.
CEPEA assessed hydrous ethanol at Brazilian reais (R) 0.9340/litre ($2.06/gal) in the week ended 16 October, up by 3.7% from R0.9007/litre in the week ended 9 October.
Anhydrous ethanol was assessed at R1.0793/litre, a 1.7% jump from R1.0610/litre a week earlier.
According to CEPEA, ethanol spot prices last week were at their highest levels since April 2007.
Brazil’s ethanol supply has tightened in 2009 due to record rainfall in the centre-south region, which accounts for 90% of the country’s ethanol production.
CEPEA’s price assessments are ex-tank and do not include taxes.
($1 = R1.71)
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